Mastercard and Visa have each given undertakings to the Reserve Bank that they will not engage in ‘tying conduct’ involving their debit and credit card products.
Reading
This paper provides a retrospective assessment of the relationship between bank profitability and
interest rates, focusing on the period when rates were very low or negative. To do this we use new confidential
bank-level data covering about 1,500 banks operating in 10 banking systems, with most samples spanning the two
decades up to the end of 2019. Our analysis confirms the empirical regularity that declining interest rates reduce
banks’ net interest margins. However, we find a smaller effect than in previous studies: on average across
countries, a 100 basis point fall in short-term interest rates results in a 5 basis point decline in net interest
margins in the short run. Notably, there are substantial cross-country differences, and, in some cases, the
estimated effect is greater. Importantly, the effect of lower interest rates on net interest margins is larger
than the effect on asset returns, suggesting that banks can shield overall profitability in the face of lower
interest rates.
And Democrats couldn’t be happier Kevin managed to keep the government from defaulting and losing his speakership which is something I didn’t think he was capable of doing. But it could be a Pyrrhic victory after all. The way they’re going they could end up losing the House in 2024: As the drama between Speaker KEVIN McCARTHY and hardline conservatives roils the House, Democratic leaders are watching with total fascination — and giddiness. For years, their own caucus has fallen in line behind a masterful political tactician who bent over backwards to protect her most vulnerable members — and by extension, her majority — often steamrolling progressives in the process. (Yes, we’re speaking of the one and only NANCY PELOSI.) Now, as Democrats see it, McCarthy is doing the exact opposite to protect his own gavel — and playing right into their hands.
The Government is expecting taxpayers to pay through their fuel bills for the transition to zero use of fossil fuels but has given no indication of the extra cost
Delaware Democrats could pass GOP legislation letting businesses cast ballots in a municipal election.
It’s a celebration of stupid.
Dentists around the country have today called for a minutes silence and a day of remembrance after it was announced that the iconic sweet Fantales were to be discontinued. ”This one definitely hits hard,” said Bellerive based dentist Dr Isaac... Read More ›
In my latest article (open access) for Review of International Studies I examine Indigenous resistance to neo-extractive development in Latin America and ask what this means for International Relations (IR). I contend that Indigenous resistance can disrupt traditional thinking in IR via an ‘insurrection of subjugated knowledge’.
The post Challenging the Coloniality of Space in International Relations appeared first on Progress in Political Economy (PPE).
When science shares freely, industry—much more than the public—reaps the rewards.
The post The Public Cost of Private Science appeared first on Nautilus.
ICE uses LexisNexis to track people's cars, gather information on people, and make arrests for its deportation machine, according to a contract.
The post LexisNexis Is Selling Your Personal Data to ICE So It Can Try to Predict Crimes appeared first on The Intercept.
What a nut: In a recently unearthed video interview, Robert F. Kennedy Jr., the noted anti-vaccine conspiracy theorist and a Democratic challenger of President Joe Biden’s 2024 reelection bid, claimed chemicals in the water supply are turning boys trans. “A lot of the problems we see in kids, particularly boys, it’s probably underappreciated how much of that is coming from chemical exposures, including a lot of sexual dysphoria that we’re seeing,” the scion of the Kennedy political dynasty said during an interview with Canadian psychologist and ring-wing pundit Jordan Peterson.
Your expectations form the way you experience the world.
The post Reality Is Your Brain’s Best Guess appeared first on Nautilus.
In recent years, the market share of Catholic hospitals—which unconscionably restrict healthcare options for all...
It appears to be over, at least as far as the DOJ is concerned: Hunter Biden has reached a deal with federal prosecutors to resolve a five-year federal investigation into his failure to pay about $1 million in federal taxes and his purchase of a handgun in 2018. Under an agreement detailed Tuesday in a filing in federal court in Delaware, President Joe Biden’s son will plead guilty to a pair of misdemeanor tax charges. Prosecutors have also charged him with possessing a firearm while being a user of illegal drugs — a felony — but have agreed to dismiss that charge if he completes a two-year period of probation. Hunter Biden, 53, is unlikely to serve time in prison if he complies with release conditions. The deal calls for both sides to recommend that he be put on probation. The probe was overseen by U.S. Attorney for Delaware David Weiss, who was appointed by former President Donald Trump and was permitted to stay in his post after Joe Biden took office in order to complete the investigation of the president’s son. The White House and the Justice Department have said they did not interfere with Weiss’ investigation.
I was rather amused, or to use the American expression “tickled pink”, when I read the article titled “Coexistance: the only realist path to peace” by Stephen M. Walt in Pearls & Irritations. The article’s claim to the “realist path” to peace would make sense only to those who have dominated others for so long Continue reading »
An attempt by certain Labor affiliated left-wing unions to put a motion critical of AUKUS at the recent ALP Victorian State Conference was deferred by factional bosses even before it was put. That it was deferred tells us as much about the hierarchy ignoring the rank and file of the party as it does about Continue reading »
Near on a decade of neglect has left Australia’s national innovation system in a lamentable state, as the Academy of Science has observed. The most recent science funding tables show that government expenditure on Research and Development (R & D) as a percentage of GDP are at the lowest levels since records began. Further, that Continue reading »